No surprises from the Fed today

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German inflation lags forecasts; odds of ECB move go up

As a preview of EuroZone inflation numbers set for release tomorrow, today’s inflation figure from Germany isn’t good news. German inflation grew by just 1.1% in April. That was up from a 0.9% increase in March, but significantly below the 1.3% projected by economists. The European Central Bank is worried that inflation is dangerously close to turning into deflation.

If it ain’t one thing, it’s another for U.S. stocks today

A little bit of everything has hit U.S. stocks today. A sell off in momentum stocks is leading the market lower again. That seems partly disappointment that good news from Apple (AAPL) didn’t take the S&P 500 through resistance at 1885 yesterday. Part seems to be disappointment at Amazon.com’s earnings. Part seems to be worry over being long equities over a weekend that could see violence in Ukraine.